Stocks soar as global economic outlook brightens

U.S. stock futures and Asian shares prospered on Wednesday as governments around the world prepare to boost spending to lift economies and continue to recover from the coronavirus crisis.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.58%. Australian stocks added 0.92% while shares in China declined 0.03%.

Japan’s Nikkei improved 0.9% and Korean shares were up 0.79%.

On the other side of the world, E-mini futures for the S&P 500 increased 0.43%.

On Tuesday, the Dow Jones Industrial Average inched up 1.57%, the S&P 500 gained 1.39%, and the Nasdaq Composite added 1.56%. Also, Wall Street performed on upbeat mode on rekindled hopes for U.S. President Joe Biden’s proposed $1.9 trillion COVID-19 relief plan as the Senate enacted to allow Democrats to pass Biden’s package without Republican support.

Euro Stoxx 50 futures climbed 0.53%, FTSE futures gained 0.38%, and German DAX futures jumped 0.41%.